Guest Post by Ashley Bertoldo, student at Brigham Young University

Are Taxes Dischargeable Through Bankruptcy? Some taxes are dischargeable through bankruptcy, but some are not eligible for discharge due to the year the taxes are due and the timeliness of filing the taxes.  If income taxes are more than three years old, they usually can be discharged.  The three year time period is based on the due date of the taxes, which generally is April 15th unless the debtor has been granted an extension.  If the taxes would be due within three years of the filing of the bankruptcy, the taxes would not be eligible for discharge.  It is not based on the end of the tax

Can Debtors be Arrested for Not Paying Their Debts? Many debtors/clients inquire whether they can be arrested if they are unable to make payments on their debts.  Creditors sometimes threaten to come to their home and arrest them if they are unable to make their payments, even if they inform the creditor of their intent to file a bankruptcy.  Often, this threat is used to encourage payment and to frighten the debtor.  This information, however, is often incorrect and misstated.  Before a debtor can be arrested for a civil matter, such as a lawsuit for not paying a debt, there is a procedure

Two new court opinions were recently handed down by the 5th and 10th Circuit Court of Appeals on the issue of whether Social Security income is considered “projected disposable income” under the Bankruptcy Code.  Projected disposable income is income that must be paid over to creditors during a 3 to 5 year Chapter 13 payment plan.

Shortly after you file for bankruptcy, the Court sends you a notice to appear at a meeting of creditors, also called a “341 meeting”.  This meeting will take place roughly about a month after your case is filed.  The notice will contain the date, address, time and the name of the trustee that will be [...]

I want to challenge the conventional wisdom that filing bankruptcy should be considered a last resort. Does that sound self serving coming from a bankruptcy lawyer? Maybe.

The short answer is no…you do not have to surrender your home if you file for bankruptcy.  If you are having financial trouble and problems making your ongoing mortgage payment, I would first recommend contacting your lender and trying to modify your mortgage.  Some lenders will work with you, but if they are not willing [...]

Vowing to make the billionaires pay their “fair share”, the country has a true consumer advocate in Massachusetts now.  Elizabeth Warren, a law professor who moonlights as a true champion of the middle class consumer, beat incumbent pretty-boy Scott Brown for the Massachusetts Senate seat vacated by Ted Kennedy.  Warren created the Consumer Protection Bureau although Wall Street interests had her ousted from her position as director when they saw her headlights in their rear view mirrors.  If there is anyone who can give the middle class hope, it is her.  Congrats Senator Warren!

Vowing to make the billionaires pay their “fair share”, the country has a true consumer advocate in Massachusetts now.  Elizabeth Warren, a law professor who moonlights as a true champion of the middle class consumer, beat incumbent pretty-boy Scott Brown for the Massachusetts Senate seat vacated by Ted Kennedy.  Warren created the Consumer Protection Bureau although Wall Street interests had her ousted from her position as director when they saw her headlights in their rear view mirrors.  If there is anyone who can give the middle class hope, it is her.  Congrats Senator Warren!

New mortgage modification rules make it easier to combine a HAMP or "Obama Plan" mortgage modification with a Chapter 13 Bankruptcy. Combining a HAMP mortgage modification may be beneficial to many homeowners.

The filing of a chapter 13 bankruptcy generally stays all foreclosure and collection actions by mortgage companies and other creditors. This allows a person to formulate a chapter 13 plan to reorganize their financial situation.